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In the Democrats defense, [voting for the bank bailouts] was no easy choice: Either sanction the grossly unjust bank bailouts on the table from Bush, or risk an even more catastrophic collapse while a possible alternative was (maybe) worked out. But thatdoesnt change the factthat Democrats did pass the bank bailouts. And when Obama took over and continued to play ball with the banks, heassuredthe bailouts would be forever politically tied around the Democrats neck.

What the Democrats did next was even worse:The Obama administrationseffortsto provide relief to homeowners through the 2009 stimulus were paltry and fell flat. Nor did Obamareally pushthe Federal Housing Finance Agency to start rescuing underwater homeowners. The executive branchs law enforcersfailedto use charges of rampant mortgage fraud to force the banks to write down homeowners debt. And of course, theydecidedto forego prosecuting Wall Street executives.

Is it any wonder much of America thinks Democrats are in thrall to wealthy elites while ignoring the middle and working classes?

Bannon is right that the titans of finance who cratered the U.S. economy were never held accountable. Hes right that regular Americans were largely ignored in the wake of the crash. Hes right that much of this is Democrats fault. And hes especially right that millions of Americans are still mad as hell about it.

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The Week: How Steve Bannon Stole Progressives' Anti-Wall ...